Accounting Process involves employee’s timesheet approvals, invoicing as per MSA/PO, submitting and coordinating to have in principle approval of the invoice, reminding Net to Pay times to the remitter, cautioning company management in case of time overruns, initiating legal actions until receivables are remitted into company account is handled by a well trained staff operating from India (offshore).
Payroll Accounting Process comprises of record of payments made by the employer to the employees, including wages, bonuses, salaries, incentives, etc. The company must prepare an employee’s payroll for all its employees from the time they are hired till retirement/resignation. Processing payroll without delays in accordance with various statutory compliances is a significant activity of a company.